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Unacademy cuts losses by 82% with spending cuts
Indian edtech unicorn Unacademy reported a net loss of 285 crore rupees (US$34.3 million) for fiscal year 2024, down 82.09% from 1,592 crore rupees (US$191.6 million) a year earlier.
This improvement was due to significant cuts in spending.
Unacademy halved its total expenditure to 1,140 crore rupees (US$137.2 million), 53.29% decrease from last year, partly due to the elimination of 250 positions.
Founded in 2015 and based in Bengaluru, Unacademy offers educational courses through a subscription model.
The platform has a network of 91,000 educators and serves over 99 million learners in more than 14 Indian languages.
Recent Unacademy developments
| Timeline |
|---|
18-Apr-2024 🔧 Ex-Unacademy COO secures $11m to transform India’s ‘gray-collar’ jobs
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22-Jun-2023 📈 Unacademy unit snaps up SG startup to boost creator ecosystem reach
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18-Aug-2022 📉 Unacademy CEO: No layoffs at job placement platform
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11-Jul-2022 📉 Unacademy takes cost-cutting measures to pass profitability test
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| 24-Nov-2021 🚀 Early Unacademy investor raises $105m in first close of fourth fund |
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